Dhampur Bio Organics Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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Dhampur Bio Organics has informed exchanges that the UP Excise Department (Assistant Excise Commissioner) has asked the company to calculate and deposit import/export fee on denatured and special denatured spirit for the period FY 2018-19 to FY 2024-25. This follows a Supreme Court order dated October 23, 2024, which upheld the State's authority to regulate industrial alcohol. The aggregate amount the company has calculated on this account is Rs. 14.17 crores. The company is contesting the matter through an Industry Association and has obtained an interim stay from the Lucknow Bench of the Allahabad High Court. The next hearing and final outcome are awaited.
While the financial exposure of Rs. 14.17 crores is relatively modest for the company, the matter remains pending and could result in a liability if the stay is lifted. The interim stay provides temporary relief, but shareholders should monitor further court developments as a negative outcome could impact profitability.